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THE VOICE OF TEXAS INSURANCE RE C O R D
INSURANCE
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WASHINGTON—The Independent Insurance Agents
& Brokers of America (IIABA or the Big “I”), cheered
United States Senators Jon Kyl (R-Ariz.) and Blanche
Lincoln (D-Ark.) for introducing an amendment to H.R.
5297, the “Small Business Lending Fund Act of 2010,”
that would permanently reform the federal estate tax.
What Kyl/Lincoln Does
The Kyl/Lincoln amendment would permanently set
the estate tax rate at 35%, with a $5 million exemption
amount phased in over 10 years and would be indexed for
inflation. In addition it would include an option for tax-
payers inheriting assets in 2010 to either retain this year’s
estate tax rate, which is zero percent, with a “carry over
basis” or file under the provisions of the bill.
Touching Agents Most Closely
“We applaud Senators Kyl and Lincoln for their efforts
to bring attention to the plight of family-owned business
and many independent insurance agents who are deeply
impacted by the estate tax,” says Robert Rusbuldt, Big “I”
president & CEO. “The Big ‘I’ supports their amendment
and urges Congress to significantly reform the estate tax
to encourage investment and growth in small business.
This reform should come in the form of a decrease in the
estate tax rate and/or increase in the exemption amount
and should be indexed for inflation for the future.”
continued on page 21
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In This Issue
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Electives Change in The CPCU Program
SELLING STRATEGIES:
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MALVERN, Pa.—In response to the needs of the property-casualty industry,
The Institutes announced the following change to the Chartered Property Casualty Underwriter (CPCU) program. Working in close cooperation with industry
professionals, designees, training experts, and the CPCU Society, the Institutes
have modified the CPCU program to ensure that it continues to meet the industry’s needs in an ever-changing and competitive marketplace.
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Effective immediately, the CPCU program will include an elective component as
a part of its Education requirement. Individuals pursuing the CPCU designation
continued on page 20
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Get THE INSURANCE RECORD digital edition — online — every other ;ursday. Send your customer number (found on your mailing label) and your email address to: digital@spcpub.com to start receiving your online edition every issue. You’ll still receive your printed edition in the mail.
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PUBLISHING
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